Silver’s 999-purity bullion benchmark closed below ₹2 lakh per kilogram in IBJA’s 22 October 2026 PM reading. The association published ₹1,99,777 per kg, compared with ₹2,00,748 in the morning. The ₹971 AM-to-PM decline is approximately 0.48%.
The quoted date matters. These are 22 October benchmark readings, checked after midnight in India on 23 October. They must not be relabelled as 23 October prices, a live exchange trade or the price of a specified futures contract.
The official silver readings
| Measure | AM opening | PM closing | Official source |
|---|---|---|---|
| Silver 999, per kilogram | ₹2,00,748 | ₹1,99,777 | IBJA dated rate sheet |
| Taxes and making charges | Excluded: 3% GST and making charges | IBJA | |
| Rate date | 22 October 2026—not 23 October | IBJA dated rate sheet | |
The change is calculated from the two same-day observations: ₹1,99,777 minus ₹2,00,748 equals minus ₹971 per kg. Dividing minus ₹971 by the AM rate of ₹2,00,748 and multiplying by 100 gives approximately minus 0.48%. It is not a previous-close percentage.
What the ₹1,99,777 figure covers
The rate is for Silver 999 and is quoted per kilogram. A number quoted per gram, for another purity, or with retail fabrication charges included is not directly comparable without aligning those details.
IBJA states that its published rates exclude 3% GST and making charges. The benchmark is therefore not the total amount a buyer necessarily pays for a bar, coin or piece of jewellery. A written quotation should separate the metal description, weight, taxes and relevant charges rather than treating a benchmark as an all-in invoice.
Price evidence is not a verified explanation
The exact date and readings are confirmed by IBJA’s linked 30-day rate sheet; the website’s chart also ends at 22 October. The checked data does not establish why the price changed. This report does not attach a currency, industrial-demand, interest-rate or geopolitical explanation without additional primary evidence.
The fall below a round-number threshold is not itself a buy signal, a promised rebound or proof of a trend that will continue. Readers comparing gold and silver can use CapKet’s guide to units, purity and jewellery bills while keeping the historical timestamp intact.
Sources and observation time
The IBJA rates homepage and its visibly linked official dated 30-day rate sheet were checked at 2026-10-22T19:52:50.827Z and 2026-10-22T19:52:50.830Z. Both are IBJA publications, not two independent sources. The source check was made on 23 October in India, but the quoted rates belong to 22 October 2026. No later rate or market driver was verified. AI-assisted primary-dataset review; not independent human editorial approval or investment advice.
Recorded source observation: . This is a source-check timestamp, not a market quote or a new article update.